Bookbuilding IPO | ₹71 Cr | Listed at BSE, NSE | Fri, Sep 29, 2023 - Thu, Oct 5, 2023
Plaza Wires IPO is a book build issue of ₹71.28 crores. The issue is entirely a fresh issue of 1.32 crore shares of ₹71.28 crore.
Plaza Wires IPO bidding started from Sep 29, 2023 and ended on Oct 5, 2023. The allotment for Plaza Wires IPO was finalized on Oct 9, 2023. The shares got listed on BSE, NSE on Oct 12, 2023.
Plaza Wires IPO price band is set at ₹54 per share. The lot size for an application is 277. The minimum amount of investment required by an retail is ₹14,958 (277 shares) (based on upper price). The lot size investment for sNII is 14 lots (3,878 shares), amounting to ₹2,09,412, and for bNII, it is 67 lots (18,559 shares), amounting to ₹10,02,186.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Plaza Wires IPO RHP for detailed Information.
IPO Open
Fri, Sep 29, 2023
IPO Close
Thu, Oct 5, 2023
Issue Price
₹54 per share
Market Cap (Pre-IPO)
₹236.26 Cr
| IPO Date | 29 Sep to 5 Oct, 2023 |
| Listed on | Thu, Oct 12, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 |
| Issue Price | ₹54 per share |
| Lot Size | 277 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,32,00,158 shares (agg. up to ₹71 Cr) |
| Fresh Issue | 1,32,00,158 shares (agg. up to ₹71 Cr) |
| Share Holding Post Issue | 4,37,52,078 shares |
| BSE Script Code / NSE Symbol | 544003 / PLAZACABLE |
| ISIN | INE0INJ01017 |
Plaza Wires IPO offers total 1,32,00,158 shares. Out of which 99,00,257 (75.00%) allocated to QIB, 61,96,213 (46.94%) allocated to QIB (Ex- Anchor), 19,79,996 (15.00%) allocated to NII 13,19,905 (10.00%) allocated to RII and 37,04,044 (28.06%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 99,00,257 (75.00%) | NA |
| − Anchor Investor Shares Offered | 37,04,044 (28.06%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 61,96,213 (46.94%) | NA |
| NII (HNI) Shares Offered | 19,79,996 (15.00%) | NA |
| − bNII > ₹10L | 13,19,905 (10.00%) | 340 |
| − sNII < ₹10L | 6,60,091 (5.00%) | 170 |
| Retail Shares Offered | 13,19,905 (10.00%) | 4,765 |
| Total Shares Offered | 1,32,00,158 (100.00%) |
Investors can bid for a minimum of 277 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 277 | ₹14,958 |
| Retail (Max) | 13 | 3,601 | ₹1,94,454 |
| S-HNI (Min) | 14 | 3,878 | ₹2,09,412 |
| S-HNI (Max) | 66 | 18,282 | ₹9,87,228 |
| B-HNI (Min) | 67 | 18,559 | ₹10,02,186 |
Plaza Wires IPO raises ₹20.00 crore from anchor investors. Plaza Wires IPO Anchor bid date is September 27, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Sep 27, 2023 |
| Shares Offered | 37,04,044 |
| Anchor Portion (₹ Cr.) | 20.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Nov 8, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jan 7, 2024 |
Incorporated in 2006, Plaza Wires Limited is engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fastmoving electrical goods (FMEG) under its flagship brand "PLAZA CABLES" and home brands such as "Action Wires" and "PCG".
Plaza Wires was originally incorporated as Navratna Wires. Its key products in the wires and cables segment include house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer & LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe & accessories, through third-party manufacturers.
As part of after-sales service for electric fans, the company has tied up with more than 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana and Tamil Nadu. In 2021, Plaza Wires expanded its product portfolio by launching miniature circuit breakers and distribution boards (DB) in the north and south Indian regions.
As of March 31, 2023, the company has over 1249 authorized dealers and distributors, 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch office cum godown at Maharashtra, 4 warehouses in Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent in 1 state, viz. Punjab.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 112.10 | 104.17 | 99.28 |
| Total Income | 182.60 | 176.94 | 145.60 |
| Profit After Tax | 7.51 | 5.95 | 4.24 |
| NET Worth | 53.08 | 45.52 | 39.48 |
| Reserves and Surplus | 22.53 | 14.96 | 35.66 |
| Total Borrowing | 39.68 | 40.09 | 43.30 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expendituretowards setting up of a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables and solar cables to expand our product portfolio | 24.41 |
| 2 | Funding the working capital requirements of the Company; and | 22.00 |
| 3 | General corporate purposes | 14.60 |
| KPI | |
|---|---|
| ROE | 14.15% |
| ROCE | 15.57% |
| Debt/Equity | 0.75 |
| RoNW | 14.16% |
| PAT Margin | 4.11% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.46 | |
| P/E (x) | 21.95 | |
| Promoter Holding | 100% | 69.83% |
| Market Cap | ₹236.26 Cr. |
The Plaza Wires IPO is subscribed 160.97 times on October 5, 2023 7:02:00 PM (Day 4). The public issue subscribed 374.81 times in the retail category, 42.84 times in the QIB category, and 388.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 42.84 | 61,96,076 | 26,54,62,119 |
| NII | 388.09 | 19,80,023 | 76,84,17,667 |
| bNII (bids above ₹10L) | 360.92 | 13,20,015 | 47,64,15,624 |
| sNII (bids below ₹10L) | 442.42 | 6,60,008 | 29,20,02,043 |
| Retail | 374.81 | 13,20,015 | 49,47,56,071 |
| Total | 160.97 | 94,96,114 | 1,52,86,35,857 |
Total Application : 18,11,954
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers' fees | 5.41 |
| 2 | Selling commission | 0.84 |
| 3 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs (2) | 0.85 |
| 4 | Fees payable to the Registrar to the Offer | 0.01 |
| 5 | Fees payable to the other consultants to the Offer | 0.32 |
| 6 | NSDL and CDSL Charges post issue | 1.25 |
| 7 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 0.49 |
| 8 | Printing and stationery | 0.09 |
| 9 | Advertising and marketing expenses | 0.43 |
| 10 | Fee payable to legal counsels | 0.42 |
| 11 | Miscellaneous | 0.11 |
| 12 | monitoring agency | 0.05 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹54.00 | ₹54.00 |
| Open | ₹84.00 | ₹76.00 |
| Low | ₹75.00 | ₹75.70 |
| High | ₹84.00 | ₹80.20 |
| Last Trade | ₹80.23 | ₹80.20 |
Lead Manager Reports
Plaza Wires IPO is a main-board IPO of 1,32,00,158 equity shares of the face value of ₹10 aggregating up to ₹71 Crores. The issue is priced at ₹54 per share. The minimum order quantity is 277.
The IPO opens on Fri, Sep 29, 2023, and closes on Thu, Oct 5, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Plaza Wires IPO using UPI as a payment gateway. Zerodha customers can apply in Plaza Wires IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Plaza Wires IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Plaza Wires IPO opens on Fri, Sep 29, 2023 and closes on Thu, Oct 5, 2023.
Plaza Wires IPO lot size is 277, and the minimum amount required for application is ₹14,958.
You can apply in Plaza Wires IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Plaza Wires IPO will be done on Monday, October 9, 2023, and the allotted shares will be credited to your demat account by Thu, Oct 12, 2023. Check the Plaza Wires IPO allotment status.
The Plaza Wires IPO listing date is on Thu, Oct 12, 2023.
